Central Banking

Zimbabwe plans new currency next year

Zimbabwe will introduce a new currency next year, phasing out bank notes introduced two years ago as a stop-gap measure to ease critical cash shortages across the country, a government daily reported on Wednesday.

"Production is at full throttle as we speak," the state-owned 'Herald' newspaper quoted a central bank official saying.

"Bearer's cheques and the other denominations will be phased out by the end of this year while the new currency will be introduced in January next year."

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